Sun Hung Kai Properties, Hong Kong’s largest developer by market capitalisation, has been caught flat-footed by a controversial policy in Shanghai barring the sale of apartments built on land designated for office or commercial use.
The developer has been forced to stop the sale of the remaining converted apartments at its luxury serviced apartment project, Arch Residence, on the Huangpu River in Pudong.
More than 100 buyers who bought the converted apartments last year for prices ranging…
June 12, 2017 at 09:19AM http://ift.tt/2rggCdb
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